Gpi Spa · MIL:GPI
Gpi Spa — Investor Presentation (September 2021)
29 slides from Gpi Spa's investor presentation, September 2021
Slide 1: Investor Presentation September 2021
INVESTOR PRESENTATION SEPTEMBER 2021
Slide 2: Sustainability and the Health Care Market
Sustainability and the Health Care Market DIGITAL TRANSFORMATION Population ageing • Redesign processes • around 1/3 over 60 yo (Italy) • general trend • Prevention and control of NCDs Chronic diseases (NCDs1) befall the world at large • increasing prevalence of (multiple) chronic conditions • Integ
Slide 3: Your Global Partner for a Better Future
> 30 years of experience, management History of Your Global Partner Growth team with a track record of internal growth and M&As for a Better Future International footprint solutions used by 2,400 customers in more than 60 countries We develop software, technologies and services to help innovating th
Slide 4: A History of Steady Growth
a History of Steady Growth 2013 Orizzonte fund providing equity +28% Vs H1 2020 financing - First minibond issued. H1 2021 preliminary results 2016 merger between GPI and the +33% Vs H1 2020 SPAC CFP1. Joining the stock market AIM Italia. 150 14 2018 graduated from AIM to MTA HY 110.4 117.2 93.3 10.
Slide 5: Strategic Business Areas
Strategic Business Areas TECHNOLOGIES 51.1% Pay 3.3% Automation 4.4% ICT 5.5% Software 37.9% SERVICES 48.9% Care Notice: % revenue by SBA out of total revenue in FY 2020
Slide 6: Supply Lines
Supply Lines • hospital information system • health social care • blood transfusion & tissue bank • health administration Software • Business Intelligence, data analytics main SBAs • other 86.8% of total revenue • BPO health care administrative svc. (AtC,..) • telemedicine Care • other • automated p
Slide 7: Projects during Covid-19
Projects during Covid-19 Real experiences concretely implementing the Group’s vision Virtual Care Vaccination programme Drive-in Swabs Region Lombardia Region Valle d’Aosta Region Lazio Telemedicine Software, Artificial Intelligence, Software solutions and devices for wearables, technological and co
Slide 8: Highlights and Main M&As
Highlights Main M&As FY2020 FY2020 • Additional bond issue of € 20 M (oversubscribed) • Oslo Italia (Business Intelligence Health Care SW, Big Data & (“GPI S.p.A. – 3.50% 2019-2025” total nominal amount € 50 M) Analytics) | € 4.3 M Rev. | 30% EBITDA • Contracts awarded Regions Basilicata and Liguria
Slide 9: Double-digit Growth in 2020
Double-digit Growth in 2020 M€ 2020 2019 REVENUE: € 271.0 M +12.5% Organic growth +6.6%, inorganic growth +5.9% Revenue & other income 271.0 240.9 EXPORT: € 23.9 M +20.0% Adjusted Revenue(1) 250.9 223.3 Blood Management Systems (Software) EBITDA 40.2 32.2 EBITDA: € 40.2 M +24.6% Main contribution by
Slide 10: Financial Highlights
Financial Highlights 2020 M€ 2020 2019 NET WORKING CAPITAL € 109.0 M (€ 91.3 M in 2019): Net working capital 109.0 91.3 • increase of revenue and impact on total receivables for € 18.7 M, reduction in trade Non-current assets 159.7 119.4 payables for € 2.2 M • Higher Inventory Other operating assets
Slide 11: Segmentation
Segmentation Revenue by EBITDA by Revenue by Revenue by Strategic Business Area Strategic Business Area Geographic area Client type* 6.4% 4.4% 13.2% 13.5% 8.8% 6.9% 37.9% 18.4% 68.1% 48.9% 82.3% 91.2% Software Care Other Software Care Altre Italy Export H-Pub H-Pri NH-Pri NH-Pub * H-pub: public heal
Slide 12: Focus SBA Software
Focus SBA Software Tenders win-ratio ** • 30% Adj. Revenue M€ EBITDA M€ Supply Lines Recurring fees • 42% Δ +13.6% Average contract length % 25.3% % • 1-3 years 27.0% 32.2% 101.1 24.8% 89.1 Average value of awards (‘17-’20) 7.4% % 27.3 • € 20 M / year 22.1 % % 8.7% 13.9% 12.5% Competitive position •
Slide 13: Focus SBA Care
Focus SBA Care Tenders win-ratio ** • 37% Adj. Revenue M€ EBITDA M€ Supply lines Recurring fees Δ + 9.3% • 81% 4.7% 1.3% Average contract length • 4-6 years 113.9 104.2 6.5% 6.2% Average value of awards (‘17-’20) • € 24 M / year 6.4 7.4 94.0% 3,7 Competitive position AtC - administr. svc. • 1° playe
Slide 14: Focus other SBAs
Focus other SBAs Automation Automated warehouse sales, Revenue M€ EBITDA M€ maintenance and service fees • Retail Pharmacies • Hospital Pharmacies • Wholesaler and other industries Δ +19.4% ICT Desktop management services fees other system services • Healthcare customers 15.1% • Non-healthcare PA 35
Slide 15: Competitive environment and strategic guidelines
Competitive environment and strategic guidelines
Slide 16: Competitive Ranking
Competitive Ranking Top Players in Italy Software BPO AtC Focus on Company Brief description HC Ranking >>29 28MMcitizens cittadinireached serviti ICT solutions and related services for public and private healthcare providers. 1st Company Brief description Ranking ICT solutions, administrative and
Slide 17: Market Assessment Software and IT Services
Market Assessment Software and IT Services Global and Italy – Gartner Hospital + Physician survey (2021 Q2) value of the Global market for health care software + IT services in 2021 $75.4 B +11.4% 2021 on 2020 CAGR 20 – 24: 12.3% 50.5% North America CAGR 20 – 24: 12.0% 24.8% Western Europe CAGR 20 –
Slide 18: IT Market 2018 – 2024 (Italy)
IT Market 2018 – 2024 (Italy) Source Netconsulting Cube (june 2021 Q2) - data in € M, % TOTAL CAGR 20-24 6.8% SW + Svc . CAGR 20-24 6.9% 18
Slide 19: International Growth
International Growth • Health care market in Italy is still slow Software for the Blood Management System: • Going international is a strategic area for the an opportunity and a necessity Health Systems of all Countries • Despite the Covid-19 period, completion of M&As to grow abroad • Pro-forma ear
Slide 20: Worldwide Presence and Solutions
Worldwide Presence and Solutions ITALY > 50 offices INTERNATIONAL OFFICES IN Austria, France, Germany, Malta, Poland, Russia, Spain, USA WORLDWIDE SOLUTIONS > 60 Countries
Slide 21: Strategic intentions 2020-2024: the pillars confirmed
Strategic intentions 2020-2024: the 5 pillars confirmed 01 02 03 04 05 EVER MORE PRIVATE HEALTH FROM FROM GLOBAL HEALTH CARE SW PRODUCTS/ PROVIDER CARE MARKET SERVICES TO TO PARTNER LEADERSHIP INTEGRATED in ITALY SOLUTIONS Doubling up of Major regional and Greater integration of Multi-business Stron
Slide 22: Economic–Financial Targets Update for 2024
Economic–Financial Targets Update for 2024 New targets estimated by equal scope of consolidation as of 31/12/2020 Previous Targets Updated Targets > € 295 M REVENUE > € 330 M CAGR 19-24 > 4% CAGR 20-24 > 5% >15.0% EBITDA MARGIN >16.5% ≤ 1xEBITDA NET DEBT ≤ 1xEBITDA
Slide 23: M&A Guidelines
M&A Guidelines
Slide 24: Historic M&A process
1988 - cri established in October e Historic M&A process ACQUIRED Spid (16%) Selfin heath) INCREASED HOLDING IN Sysline (70%) ACQUIRED & CONSOLIDATED ACQUIRED Logicast (100%) GCS theath) Larca (100%) Axgentea (10%) Spid (78%) ACQUIRED ‘sysline (90%) Sysline(6s%) Hit (90%) ESTABLISHED. ESTABLISHED Se
Slide 25: M&A Guidelines
M&A Guidelines Become a Major European Player TARGET • Product Portfolio • Structured software Evolution companies software|services| • Product Portfolio territories Evolution Blood Management System Software
Slide 26: M&A Guidelines: Funding Sources
M&A Guidelines FUNDING SOURCES • EXERCISED WARRANTS € 22.3 M • BOND • DEBT FINANCING
Slide 27: Investment Attractiveness
Investment Attractiveness Leadership and Uniqueness GPI IN THE STOCK MARKET ISIN: IT0005221517 Ticker: GPI:IM 18,260,496 Ordinary Shares Growth and Visibility Price: € 12.05 (21 September 2021) Capitalisation: € 220 M Technology and Service ANALYSTS’ COVERAGE – Target price SHAREHOLDING STRUCTURE In
Slide 28: IR Contact details
IR Contact details Via Ragazzi del '99, 13 - 38123 Trento T +39 0461 381515 investor.relations@gpi.it Fabrizio Redavid Lorenzo Giollo C. +39 335 1035499 C. +39 340 8223333 fabrizio.redavid@gpi.it lorenzo.giollo@gpi.it - Maggio 2018
Slide 29: Disclaimer
Disclaimer The material in this presentation was prepared by GPI S.p.A. ("GPI” or the “Company”) without any paragraph 2, letters a) to d) of the Order; and (C) other persons to whom this presentation can be form of independent verification; it is general, basic information about the current busines